Coldstream Capital Management Inc. Grows Holdings in Veeva Systems Inc. (NYSE:VEEV)

Coldstream Capital Management Inc. raised its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 95.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,866 shares of the technology company’s stock after purchasing an additional 2,374 shares during the period. Coldstream Capital Management Inc.’s holdings in Veeva Systems were worth $1,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VEEV. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Veeva Systems by 1.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after purchasing an additional 50 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 52 shares in the last quarter. Park Place Capital Corp increased its holdings in shares of Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after purchasing an additional 59 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its position in shares of Veeva Systems by 13.4% in the third quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after buying an additional 61 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Down 0.6 %

NYSE VEEV opened at $232.48 on Friday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The company’s 50-day moving average price is $220.31 and its 200-day moving average price is $203.63. The stock has a market cap of $37.65 billion, a PE ratio of 57.40, a PEG ratio of 2.07 and a beta of 0.82.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on VEEV shares. Guggenheim raised their price target on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Evercore ISI boosted their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Royal Bank of Canada increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Truist Financial restated a “hold” rating and issued a $261.00 target price (up from $207.00) on shares of Veeva Systems in a report on Friday, December 6th. Finally, BNP Paribas assumed coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.35.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.